New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-10-10
TIE PETROLEUM MARKET


virus rpov THE FIELD AND RANGE OF PRICES.
Ttc, has been no remarkable change in the petroleum
situation our last weekly REVIEW 9P0U'"'''"
iet but good degree Of Stability charactefizes Nauo7
and m. actual business trade IS moving healh.u4J
The absence OF speculative fever Is perhaps OF ue'ueu
benefit 10 the industry, for It Is evidence thai oe''i
market is 20 Dc secured for Their commodity oy ue pro
du,ers they nust carry their proposed ShuV
1,.o ,,o,ement to success. At Any raic,
ms seems to be the altitude OF the leaders
and controlling powers in the market namely indifference
"a the hopes OF he little holders but opposition 10 any
aggression by the bears But while this condition oi
raIr lasts # cannot be expected that the general PuDc
Viii HELM 10 carry the stocks The producers oieAi4a
ton deems IL root policy 10 veil with secrecy eve" r'
most general Of the progress 1t Is MAKING %
members say that the viii attest the wisdom anu
necessity Of this absolute silence But until inc PlVuuS
,ar the nullo more into their confidence there VIII be no
support 10 values this source Kept 30 thoious"J ~
the dark respecting plans whch IN thef success W ~
ure Will be decisive Of the fate OF values inc ''9''i ~
not buy with confidence. lie afeduy I'"'S ""''".
rightly or wrongly imInatera 10 our point the influence
Of The overshadOwng refining Interests ana he no" Sos
prices largely the mercy Of an oath bouhd Juha :" W
roducine interest. We told In general terms that the
movement 70 curta production Is making safa 'ory prog
fess, and yet outsider has any assurance 'h1' " Jay
the Kettle Of FISH may not be kicked over
In the field there no danger points Oh MAGNITUDE
visible The properties at Taylorstown when j. u' Only
ur Of the region around Washington from when large
dueton could be expected have been placed under 'he
IN
the cost Of operations and develop the pool IN sesDo
UNIV There Is no market breaker here AZ KeIboiu
active work could bring serious addition 70 The ne" sup
nlv hut the odds are probably favor Of the most dah
rerous drer there pursuing more conservative poe9
hereafter Saxonburg be fun OF dangerous postum
tie and early this will pretty well whether
IN district is likely b b large not but very strong
seeiE are being made tic up the SaXonburg producers
until oil enjoys reasonable price. Elsewhere Inc
o couutrv is featurevss and only the wd-catier whom
IKE the poor We have always with surprise the
trade with any new pool The early pipe line runs ths
,ont have shown startling decline, while the delFIe7
maintain their recent big volume The runs are 81 s'
- actually 10 fall considerably below the charters 10 ua''
M daily average o; latter for seven days having Dc'n
a. c0 barrels in excess the daily average OF The runs ior
six DAYS The excess deliveries over runs has feach'u
the large amount Of 3d. 4 barrels per day against an
vcacc daily excess deliveries for Oc"ber' Io7o VI
oo7 barrels and for October 1855, Of 1892 barrels Cas
the midtown movement Is put into effect Is 700 huch
a. ect continuance Of these amazing Hgufcs' bul never
,nele there are substantial grounds Tor eApccuB' ia ''
ioce M the ouening Of field, 0w rate Of pro
ac,ion that Will lead the wplng out OF sOhc I'oVVVoo
n,s ~ stock before the OF the new year sue
,,I restriction OF the drill would readily double TINS
Ito a, reduction The daily average runs THIS month M"
~ IA oea barrels against average OF 1885 Ddfre' "
ocober 1886 and 60, barrels IN october loo' ~,
e;Ip Average deliveries has been 1851 Ddrre ~
"a Zoo h.r@ls i'm October, 1885, ana Opoli pdIri9 q, n
iy isa, The current figures from ocVpcI w v
pD,icrs IN the 7th inclusive. we're as folio"s'